HP Inc. price target lowered to $16 from $18 at BofA

BofA lowered the firm’s price target on HP Inc. (HPQ) to $16 from $18 and keeps an Underperform rating on the shares. HP delivered a roughly inline fiscal Q1 and upheld FY26 guide for EPS and free cash flow, but clarified both will be towards the low-end of the previously guided ranges, the analyst tells investors. The firm says its Underperform rating reflects the “coinciding headwinds” of slower PC unit growth, margin pressure from memory costs, and uncertainty from the leadership transition.